Evolve Markets Review 2019

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Evolve Markets Review

Established in 2016, Evolve Markets is a new breed of an online trading platform. This is because while Evolve Markets also offers traditional online trading services such as forex and Contracts for Difference (CFDs), the broker specializes in cryptocurrency trading. Evolve Markets was founded by a group of enthusiasts in crypto trading.

Based on the islands of St Vincent and the Grenadines, Evolve Markets was founded by a group of early adoption Bitcoin enthusiasts and Forex broker operators. It offers to trade off both cryptos and Forex assets on the Metatrader 5 platform and gives traders the opportunity to use the leverage of 50:1 for crypto trading. The firm particularly prides itself on the fact that while they do offer an STP business model for trading Forex, their main source of business is offering crypto trading on the MT5 platform. This sets them apart from other MT5 brokers and means their real competition is with margin trading cryptocurrency exchanges.

Evolve Markets Regulations

Being an offshore broker based on the islands of St Vincent and the Grenadines, Evolve Markets is a registered IBC (International Business Company). As a registered IBC, Evolve Markets abide by all regulatory requirements as an offshore financial services provider based on the islands of St Vincent and the Grenadines. However, Evolve Markets does not hold a brokerage license in any jurisdiction around the world. One of the key benefits of being unregulated is the fact that Evolve Markets is able to offer higher leverage and a wider array of products and services than what regulated brokers are able to offer.

Evolve Markets Reliability

In terms of reliability, Evolve Markets has been operating in the industry since 2016. The broker complies with the banking industry “know your client” policy and uses 2 FA authentication and stores their crypto assets offline in “cold storage”. Their servers are also well protected with the latest internet security system. All transactions on the trading platform are also encrypted with SSL encryption technology to ensure that the integrity of your personal details is not comprised by the unauthorized intrusion.

Evolve Markets Trading Platforms

As for the trading platform adopted by Evolve Markets, they use the industry proven MetaTrader 5 platform. The MT5 platform is an updated version of the widely adopted MT4 platform. It supports multi-asset trading such as forex, futures, and stocks. It comes integrated with a wide array of advanced trading tools such as comprehensive charts, multiple language support, automated trading as well as copy trading.

Other powerful features found in the MT5 platform include Market Depth view and support for multiple order types. It also supports a netting system as well as order accounting system. In terms of order execution, there are 4 different types of mode: Instant, Request, Market, and Exchange. With such as wide diversity of order types being supported, the Evolve Markets’s MT 5 platform will allow you to deploy a wide range of trading strategies hence ensuring that you will get the most out of your trading opportunities.

Another advantage which Evolve Markets is able to offer its traders is signal trading and copy trading. For traders who lack the time or the skill to analyze the markets, signal trading or copy trading will enable you to trade like a professional. Merely subscribe to the trading signals generated by a successful trader and you will be able to replicate his trades exactly. The MT5 platform lets you choose from hundreds of free or paid signal services with the option for you to decide on the preferred risk level and return ratio.

Evolve Markets Mobile Trading

For traders who are constantly on the move, Evolve Markets is able to support their trading needs through the provision of mobile trading apps optimized for iOS and Android-powered devices. The mobile trading app is available free of charge and can be easily downloaded from Google Play Store and Apple App Store. While the mobile MT5 trading app may not be as resource heavy as the fully fledged desktop version, it is still able to provide extensive market analysis. It also lets you monitor your trading account status as well as execute trades. In short, the mobile trading app puts the financial markets right at your fingertips wherever you are.

Evolve Markets Trade Types/Instruments

Supported instruments at Evolve Markets consist of forex, indices, commodities, and cryptocurrencies. All these assets can easily be traded with CFDs hence making trading on the Evolve Markets platform very affordable. With forex, you have over 60 different types of currency pairs to trade with. For commodities, you have a choice of several types of precious metals, energy assets such as crude oil or natural gas. For market indices, Evolve Markets provide a selection of 10 major indices such as AUS200, UK100, and GER30. For cryptocurrencies, Evolve Markets offers 7 major cryptocurrency pairs with the most popular being Bitcoin, Litecoin, and Ethereum.

Evolve Markets Account Types

There are 2 types of trading accounts available at Evolve Markets, Classic Account and Pro Account. Features of the Classic account include the following:

Commission Free trading

075% on Crypto

500:1 Leverage on Forex

BTC, LTC or BIT Account Deposit Currency

Deposit on 1 Blockchain Confirmation

EAs Allowed

Hedging Allowed

Instant Account approval

Institutional Grade STP Spreads

Metatrader 5 Desktop, Web & Mobile

Negative Balance Protection

Scalping Allowed

UP to 50x Leverage on Bitcoin and Altcoins

Zero Commission on FX, Commodities & Indices

For the Pro account, the features include the following:

Interbank spreads + Commission

$3.50/side per lot commission on FX & Commodities

075% on Crypto

1 point per contract commission on Indices

500:1 Leverage on Forex

BTC, LTC or BIT Account Deposit Currency

Minimum Spreads from 0 Pips

UP to 50x Leverage on Bitcoin and Altcoins

Evolve Markets Commissions & Spreads

Depending on the type of trading account used, Evolve Markets charges a mix of spreads and commissions on the trades executed in its trading platform. For classic account holders, the trading fees are factored into the spreads. For Pro, the trading fees consist of raw spreads and commissions combined.

Instrument

Trading Fees

Cryptocurrencies

0.075% notional

Forex

$3.50 per lot paid in BTC or LTC equivalent

Commodities

$3.50 per lot paid in BTC or LTC equivalent

Indices

1 basis point/contract (.01 trade size)

Metals

$3.50 per lot paid in BTC or LTC equivalent

Evolve Markets Deposits & Withdrawals Options

At present, Evolve Markets only supports deposits and withdrawals through BTC and LTC. There is no fee for making deposits but withdrawals will incur a small fee of 0.005 BTC or equivalent.

Evolve Markets Customer Support

For customer support, you can contact the support team through email or by filling up the web contact form on their website.

Pros and Cons

Pros

Robust Trading platform

Supports Crypto Trading

Copy Trading Supported

No minimum deposit requirement

High Leverage

Cons

No telephone or live chat support

Unregulated broker

No Fiat currency support

FAQ

Is Evolve Markets regulated?

No, Evolve Markets is not a regulated broker.

Where is Evolve Markets based?

Evolve Markets is an offshore broker that is based on the islands of St Vincent and the Grenadines.

How does Evolve Markets make money?

Evolve Markets makes its money from charging traders a mix of spreads and commissions on the trades that they make on the broker’s trading platform.

How do I deposit in Evolve Markets account?

To deposit funds into your trading account at Evolve Markets, you need a cryptocurrency wallet that supports BTC and LTC.

How do I withdraw money from Evolve Markets?

Withdrawals of funds are in the form of BTC or LTC by sending the withdrawn funds to your cryptocurrency wallet.

How do I open an account with Evolve Markets?

To open an account at Evolve Markets, simply fill out the registration form. You will get an activation email to your inbox, which you will need to click on and then will be able to enter the dashboard area of the website.

Is Evolve Markets reliable?

Evolve Markets is a new breed of brokers that specialize in cryptocurrency trading. It uses 2 FA authentication and SSL encryption to protect its traders.

Does Evolve Markets use MetaTrader?

Yes, Evolve Markets uses the MetaTrader 5 trading platform.

What is Evolve Markets’s leverage?

The maximum leverage offered by Evolve Markets is 1:500.

Is Evolve Markets a scam?

No, Evolve Markets is not a scam. It has been operating since 2016.

How safe is Evolve Markets?

To date, there have been no reports of Evolve Markets being hacked.

Conclusion

Comparatively, Evolve Markets lacks several features that make it outstanding from other brokers in the industry. However, it cannot be denied that Evolve Markets caters to a different breed of traders, especially those who invest in the vibrant cryptocurrency markets. For those who wish a more innovative broker, Evolve Markets is the perfect solution.

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